Salesforce stock rises after attracting yet another activist investor
Salesforce Inc. (CRM) shares rose about 1% in after-hours trading Wednesday after a report that a fifth activist investor had jumped into the shares. The Wall Street Journal reported that Third Point LLC had built a stake in the software company, though there was no information about the size of the stake nor plans by Third Point leader Dan Loeb to push for change. Salesforce has also been reportedly targeted by ValueAct Capital Partners LP, Elliott Investment Management LP, Starboard Value LP and Inclusive Capital amid slowing growth. The activist investors going after one of the biggest names in tech is part of a wave of new activism targeted at tech stocks after they dove last year.
-Jeremy C. Owens
(END) Dow Jones Newswires
February 08, 2023 16:52 ET (21:52 GMT)
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